TD Asset Management Inc Sells 13,760 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Key Points

• TD Asset Management Inc reduced its stake in Manhattan Associates, Inc. by 3.7%, now holding 353,306 shares worth approximately $61 million.
• After recent earnings, Manhattan Associates reported a net margin of 20.91% and revenues of $272.42 million, exceeding analyst estimates.
• Equities analysts have mixed ratings for Manhattan Associates, with a current consensus rating of "Hold" and a target price of $216.67.

TD Asset Management Inc lowered its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 3.7% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 353,306 shares of the software maker's stock after selling 13,760 shares during the period. TD Asset Management Inc owned about 0.58% of Manhattan Associates worth $61,136,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Park Square Financial Group LLC acquired a new position in shares of Manhattan Associates during the 4th quarter worth $38,000. Transce3nd LLC acquired a new position in shares of Manhattan Associates during the 4th quarter worth $41,000. Central Pacific Bank Trust Division raised its holdings in shares of Manhattan Associates by 107.3% during the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock worth $34,000 after buying an additional 103 shares in the last quarter. Reyes Financial Architecture Inc. raised its holdings in shares of Manhattan Associates by 42.5% during the 1st quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock worth $82,000 after buying an additional 142 shares in the last quarter. Finally, Harbor Investment Advisory LLC raised its holdings in shares of Manhattan Associates by 57.7% during the 1st quarter. Harbor Investment Advisory LLC now owns 552 shares of the software maker's stock worth $96,000 after buying an additional 202 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MANH shares. Robert W. Baird boosted their price objective on Manhattan Associates from $212.00 to $230.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Morgan Stanley started coverage on Manhattan Associates in a research report on Monday, July 14th. They set an "underweight" rating and a $190.00 price objective on the stock. Redburn Atlantic lowered Manhattan Associates from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $270.00 to $200.00 in a research report on Tuesday, June 10th. DA Davidson boosted their price objective on Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, Truist Financial boosted their price objective on Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Manhattan Associates presently has a consensus rating of "Hold" and an average price target of $216.67.

Manhattan Associates Trading Down 2.0%

MANH stock traded down $4.47 during trading on Thursday, hitting $223.47. The company had a trading volume of 179,580 shares, compared to its average volume of 827,699. The business has a 50-day moving average of $197.31 and a 200-day moving average of $192.92. Manhattan Associates, Inc. has a one year low of $140.81 and a one year high of $312.60. The stock has a market cap of $13.51 billion, a PE ratio of 62.42 and a beta of 1.08.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The software maker reported $1.31 EPS for the quarter, beating the consensus estimate of $1.12 by $0.19. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%. The business had revenue of $272.42 million for the quarter, compared to analysts' expectations of $263.62 million. During the same period in the prior year, the business posted $1.18 earnings per share. The firm's revenue was up 2.7% on a year-over-year basis. Research analysts forecast that Manhattan Associates, Inc. will post 3.3 EPS for the current year.

Insiders Place Their Bets

In other Manhattan Associates news, EVP James Stewart Gantt sold 2,300 shares of Manhattan Associates stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $220.33, for a total value of $506,759.00. Following the completion of the sale, the executive vice president directly owned 48,660 shares in the company, valued at approximately $10,721,257.80. The trade was a 4.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.88% of the company's stock.

Manhattan Associates Profile

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.